Beijing, 5 July 2022 (TDI): Chinese Vice Premier Liu He and US Treasury Secretary Janet Yellen held a video conversation on Tuesday. The two leaders discussed the concerns about the US’s additional tariffs on Chinese goods and US sanctions on China.

The news of the US easing or lifting tariffs on China surfaced before the virtual meeting.

During the meeting, the two dignitaries discussed the stability of global supply chains and joint efforts towards achieving the same.

As a result, both countries expressed a resolve to improve macro-policy communication.

The exchange was termed “pragmatic and candid.” Both sides agreed that cooperation between China and the US is highly important.

This is due to the global economy, which is undergoing immense challenges, and cooperation between the two countries is key.

China’s concerns about additional US tariffs

China also expressed its concern regarding the lifting of additional US tariffs and sanctions on China.

The Chinese ministry expressed its concern over issues such as the lifting of additional tariffs and sanctions imposed by the United States on China and fair treatment of Chinese companies.

The importance of the de-escalation between the US and China:

According to He Weiwen, an executive council member of the China Society for the World Trade Organization, the talk represented China’s partaking in globalization.

He said while China is seeking cooperation with the US, it remains firm on its “rights and interests”.

Moreover, there are chances for the Biden administration to roll back the sanctions on China. Therefore, the final decision is expected after the negotiations with Chinese President Xi Jinping.

In light of this, both countries have reflected a willingness to continue future communication.